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What is the amount of gain

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Question - Brian Brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $120,000. The property had cost $300,000 and he had made improvements of $50,000. Depreciation of $100,000 has been claimed and selling expenses were $20,000. What is the amount of gain?

a. $100,000

b. $200,000

c. $250,000

d. $280,000

e. $330,000

Reference no: EM131754724

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